Enefit Green

Enefit Green AS
Company typePublic
IndustryRenewable energy
Founded2016 (2016)
Headquarters
Tallinn
,
Estonia
Key people
Aavo Kärmas (CEO)
Hando Sutter (Chairman)
ProductsElectric power
Heat
ServicesDistrict heating
ParentEesti Energia
Websitewww.enefitgreen.ee

Enefit Green AS is a publicly traded renewable energy company located in Tallinn, Estonia. It went public on Nasdaq Tallinn in October 2021 with 23 % of shares, the rest being owned by the state-owned energy company Eesti Energia. CEO of the company is Aavo Kärmas.[1]

Enefit Green was established in 2016 based on the renewable energy assets of Eesti Energia. The name of Enefit Green was adopted at the end of 2017. In 2018, Enefit Green installed at the remote off-the-grid Ruhnu island an hybrid power generation system, which includes a solar farm, a wind turbine, and battery for energy storage, backed-up with a diesel generator running on biodiesel.[2][3] Also in 2018, Enefit Green acquired renewable energy producer Nelja Energia which became a subsidiary of Enefit Green.[1][4]

Enefit Green owns four wind farms (Paldiski, Narva, Aulepa, Virtsu), Iru waste-to-energy plant, Paide and Valka biomass power plants, Keila-Joa hydroelectric power plant, and Ruhnu hybrid power generation. In addition, its subsidiary Nelja Energia owns eleven wind farms in Estonia and four wind farms in Lithuania,[5][6] two biogas-fuelled co-generation plants in Estonia,[6] a co-generation plant and pellet factory in Latvia,[7] and it plans a 700–1,100 MW offshore wind farm off Hiiumaa, Estonia.[8] In 2018, Enefit Green concluded an agreement with Finnish Metsähallitus, that grants the right to Enefit Green to develop a 100 MW wind farm in Tolpanvaara, North Ostrobothnia in Finland.[9] Enefit Green also plans several solar plants with a total capacity of 7 MW.[10]

Enefit Green shares have been listed on the main list of the Tallinn Stock Exchange since October 21, 2021 and can be traded on the Nasdaq Baltic Stock Exchange. The stock's trading symbol is EGR1T. The ISIN code of the share is EE3100137985.[11] Enefit Green has 264,276,232 shares listed. As of December 31, 2021, Enefit Green had 58,771 shareholders. 15% of the shares are owned by retail investors.[12]

  1. ^ a b "Competition Authority approves Eesti Energia acquisition of Nelja Energia". ERR. 2018-11-07. Retrieved 2019-02-17.
  2. ^ "Enefit Green installs renewables hybrid on Baltic Sea island". Renewable Now. 2018-11-27. Retrieved 2019-02-17.
  3. ^ "Solar power plant completed on island of Ruhnu". ERR. BNS. 2018-07-25. Retrieved 2019-02-17.
  4. ^ "Enefit Green borrows €260 million to refinance Nelja Energia debt". ERR. BNS. 2018-12-21. Retrieved 2019-02-17.
  5. ^ Tere, Juhan (2012-06-08). "Nelja Energia opens its third wind park in Lithuania". The Baltic Course. Retrieved 2012-07-12.
  6. ^ a b Õepa, Aivar (2012-06-14). "Nelja Energia launches biogas developments". news2biz. Archived from the original on 2013-01-29. Retrieved 2012-07-12.
  7. ^ Vahtla, Aili (2017-06-15). "Nelja Energia opens first cogeneration plant, pellet factory in Latvia". ERR. Retrieved 2018-06-03.
  8. ^ Vahtla, Aili (2017-08-01). "Nelja Energia, Hiiu Municipality sign contract to build offshore wind farm". ERR. Retrieved 2018-06-03.
  9. ^ "Enefit Green may invest up to €150 million in Finnish wind farm". ERR. 2018-06-27. Retrieved 2019-02-17.
  10. ^ "Enefit Green to build 7 MW of solar plants in Estonia". Renewable Now. 2018-10-10. Retrieved 2019-02-17.
  11. ^ "Enefit Green | Väärtpaber — Nasdaq Balti börs". nasdaqbaltic.com (in Estonian). Retrieved 2022-07-15.
  12. ^ "Enefit Greeni 2021.a. IV kvartali ja 12 kuu auditeerimata finantstulemused". view.news.eu.nasdaq.com. Retrieved 2022-07-15.